Interation Between Globalization and Organizational Performance in the Third World: Nigeria in Focus

Chiemela U. Wokoma, E. B.J. Iheriohanma

Abstract


This paper is on how the phenomenon of globalization affects or poses a challenge to organisations operating in the Third World countries, especially Nigeria. Building on environment - organisation analysis, this paper explores globalisation – business performance relationship. Globalization acts as a two – edged sword; it slashes the throat of the weak, while as Excalibur, it further strengthens the hand of the strong. Globalization affords all the opportunities that can help Third World countries transform from Third World to First World in one generation. However, Africa has been a marginal participant in the new global order, and watches globalisation as a paradox. As a result of some skewed and embarrassing features such as inadequate skilled manpower, lack of critical social, legal and economic structures, etc, and the challenging forces and propellants of globalization such as technological innovations, economic liberalisation, etc. Third World economies have not gained the advantage of global world economies. These have made Third World economies vulnerable to the manipulations and dictates of the rampaging economies of the First World. They have caused organisations operating in these Third World economies to become victims of the globalization phenomenon thereby, hindering their (organisations) performance. It is the opinion of this paper that Third World countries need to restructure their political, economic, social and technological structures and give priority to technological and knowledge – driven human capital development. This is expedient because critical and knowledge human resource has become the key for productivity in this era of globalization.Key words: Globalization; Organizational Performance; Third World; Good Governance; Critical Knowledge and Skill

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DOI: http://dx.doi.org/10.3968%2Fj.sss.1923018420100102.008

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